It’s been a week since Ethereum’s Co-founder Vitalik Buterin has been drilled on social media for ‘selling Ethereum for profits’. Vitalik has busted these claims and said that he won’t invest in L2 tokens in the foreseeable future, he only plans to see ETH proceeds for charity and supporting research and development(R&D) in valuable areas including biomedical.
Continuing on his previous tweet about not selling but hodling since 2018, Vitalik added, “BTW the above also applies to L2 tokens or other project tokens I hold (incl not-yet-liquid): all proceeds will be donated, again either to support public goods within the ethereum ecosystem or broader charity (eg. biomedical R&D).”
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Vitalik shared his plans to not invest into L2s or other token projects in the future, and instead fund projects undervalued in ecosystems.
BTW the above also applies to L2 tokens or other project tokens I hold (incl not-yet-liquid): all proceeds will be donated, again either to support public goods within the ethereum ecosystem or broader charity (eg. biomedical R&D).
I also do not intend to invest into L2s or…
— vitalik.eth (@VitalikButerin) September 5, 2024
Some days ago, he had tweeted that the sales support various projects that he feels are valuable, ‘either within the ethereum ecosystem or broader charity like biomedical R&D’. The tweets were in response to X users’ complaint about Vitalik selling ETH for profits. While many called him out on this, others believed it is only normal for project builders to sell some of their tokens to make profits, especially when the project is the second most popular cryptocurrency.
This discussion around Ethereum sales was sparked when Vitalik donated $500,000 to Animal Welfare Charity, with $100,000 from Neiro Community takeover Token Sale. Buterin has also unlocked 1.268 million STRK tokens from the LockedTokenGrant, in a bid to support its ecosystem.
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Also Read: Vitalik Buterin Predicts End of Traditional Computing in Blog
